ABT stock: buy or sell
Jan 16th, 2021
ABT stock brief
- Abbott stock moved up 1.15% to close at $111.30 on the stock market on Friday.
- Abbott is presenting its earnings report on Wednesday
- The stock is configuring an uptrend pattern since June 2020, when it bottomed at $85.20. This uptrend marked a 30.63% gain
- Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide.
Should I buy Abbott stock?
All successful traders recommend adhering to a trading strategy and not make decisions based on subjective opinions, rumors or feelings. Trading strategies are meant for helping you in the decision process of what stocks to pick and when is the best moment to buy them. At Stocks2.com, we like to use very simple but trusted and powerful trend following trading strategies. Simple things usually work the best
Is $ABT stock a buy?
Currently, Abbott stock matches 2 trading strategies:
Uptrend buy setup
Abbott stock continues to trend higher since in June 2020 and marked an amazing 30.63% gain. Price marked a pull back in this uptrend at $104.90 in mid-December, and since then it bounced off a 6.10%. Breaking out above $114.68 - it's last top - will be a good entry point if Abbott resumes the uptrend. If you decide to enter this trade, the suggested stop loss is at $103.21
|Buy setup||Buy point||Stop loss||Risk|
|Uptrend buy setup||$114.68||$103.21||10.00%|
ATH buy setup
All-time Highs is always an excellent buy point for those who like to buy high and sell higher. The good point of buying at all-time highs is that price doesn't have upper resistances, and usually it rises quickly. However, there's the risk of a bulls trap that may trigger your buy order and then drops sharply. That's why a stop loss is so important. Price is now at 3.04% of all-time highs and it can breakout at any time, so if you want to trade this setup it's recommended to setup your order at $114.68. The stop loss would be ordered at $103.21
|Buy setup||Buy point||Stop loss||Risk|
|ATH buy setup||$114.68||$103.21||10.00%|
Should I sell Abbott stock?
How to know when is it time to sell Abbott stock?. Trading strategies let us to avoid impetuous decisions based on our personal moods or the noise that surrounds the market. Our trading system selects very simple strategies to guide us on when is the best moment to sell a stock. Be aware that these strategies are not intended for shorting Abbott stock
A golden rule is that you must never mantain an investment that produces losses greater than those expected upon the buy. The moment to sell your stock must always be determined by the stop-loss (automatic or manual)
Is it time to sell Abbott stock?
In the current situation of Abbott there is not any eligible sell setup, so Abbott stock holders with operations in profit can keep their positions
We don't have any rating published in the previous month for Abbott
Abbott stock analysis
Since in June 2020, Abbott has been drawing an uptrend that by now marked a gorgeous 30.63%. The chart shows higher highs and higher troughs, and along the way gave some buy points for those who wanted to trade in. Latest low was in mid-December, when price bounced at $104.90. Like in all uptrends, price needs to rest and now price is moving in a range between $114.68 and $104.90
Supports and resistances
The current resistance levels are:
The current support levels are:
The evolution of the Bollinger Bands on the chart shows that they are fairly close to each other (4.80%), which clearly indicates that price volatility is low. The narrowness of the Bollinger bands is usually a indication of a sudden price movement (up or down), so we must be on alert and manage our buy or sell orders correctly
Relative strength index
The has been between the overbought and oversold zones for several weeks, and therefore, without this indicator really being of any help to us in making any decisions.
Abbott stock price history
Abbott went public priced at an adjusted price1 of $0.00 on Mar 1980. Since then, ABT stock surged by -, with an average of 0.00% per year. If you had invested thousand dollars in Abbott stock on the IPO, it would worth $inf today.
1: Adjusted price after possible price splits or reverse-splits
Price target for Abbott stock
How much a stock will be priced tomorrow or next week is quite unpredictable. However, many stock price predictions are issued every day by banks, financial institutions and independent analysts.
The following table shows the price forecasts published by brokerage institutions over the last 30 days. If you are a small trader you must not buy or sell based on these predictions.
We don't have any target price posted in the last month for Abbott.
Earnings and financials
ABT ($ABT) releases financial report on Wednesday. Market forecasts of $0.04, compared to Q3 that was $0.98. Regarding to turn over, the estimates are $26.8 million.
If you are a shareholder of Abbott stock, you should review your stop-loss, as financial report release day often has higher than usual volatility. Abbott's website probably has further details.
Abbott Laboratories ($ABT) released earnings of $0.98 per share last October, slightly uplifting the analysts consensus estimate of $0.90 per share. This quarterly report represents an earnings surprise of 8.89%. Estimated revenue was $8.5 billion but Abbott slightly uplifted by 4.03%, posting $8.9 billion.In comparison, the EPS for the same quarter last year was $0.84, so posted EPS is a improvement of 16.67%. Looking at turnover, figures went up a 9.62% compared to $80.8B same quarter last year.
Please read:The opinions expressed in this article are personal and not recommendations for you to buy or sell shares. The author of this article does not know the specific situations of the reader, his or her financial statements or what is in his or her best interest at any given time. All users should speak with their financial advisor before buying or selling any securities Comments are posted for learning motives only
|Friday, January 15th, 2021|
|Day range||$109.39 - $111.62|
|Average true range||$2.41|
|50d mov avg||$108.97|
|100d mov avg||$107.52|
|200d mov avg||$100.06|
|Earnings date||January 20th, 2021|